PSE Circular for Brokers No. 1917-98

August 18, 1998 PSE CIRCULAR FOR BROKERS NO. 1917-98 NOTICE OF SUBSCRIPTION CALL TO OUR STOCKHOLDERS: Please be advised that on 29 July 1998, the Board of Directors adopted the following resolution: "RESOLVED, as it is hereby resolved, to authorize the Company to issue a call for payment of all unpaid and outstanding 1994 subscriptions to the extent of TEN PERCENT (10%) of the subscription amount, payable on or before 31 August 1998." The above subscription call is intended to effect a 60% payment on all unpaid 1994 subscriptions, inclusive of the previous 25% initial payment (January 20, 1995), 10% subscription call (January 26, 1996) and 15% subscription call (May 16, 1997). prLL Failure to pay the subscription amount due within the stated period shall render the entire balance due and payable and subject to a 12% interest charge per annum computed from September 1, 1998 until full payment. If within (30) days from said date still no payment is made, all stocks covered by said subscription shall thereupon become delinquent and shall be subject to sale as provided in Sec. 68 of the Corporation Code. Please be guided accordingly. 30 July 1998. (SGD.) ADRIAN S. ARIAS Corporate Secretary